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UPDATE 1-Oil drops on China manufacturing slump, but tighter supply supports

* U.S.

Oil prices defend gains as output dips, China boosts consumption

SINGAPORE, March 1 (Reuters) - U.S. crude oil prices were steady in early Asian trading on Tuesday after lower domestic production as well as dipping output from OPEC tightened the market just as China further eased its monetary policy in a bid to boost consumption.

Moody's downgrades Alaska's GO bonds on oil slide

NEW YORK, Feb 29 (Reuters) - Moody's ratings agency on Monday downgraded Alaska's general obligation bonds to Aa1 from Aaa due to the slide in oil prices, saying it could deplete its main budgetary reserves by fiscal year 2019.

SNC-Lavalin secures $800m oil and gas contract in Middle East

SNC-Lavalin is pleased to announce that it has been awarded a significant oil and gas contract in the Middle East with an approximate value of $800m \.

China Petrobras loan cuts need for government bailout -Itau BBA

RIO DE JANEIRO, Feb 29 (Reuters) - A credit line of up to $10 billion from China's state development bank to Petrobras cuts the risk that Brazil's state-run oil company would need government assistance to pay for debt and investment in 2016, Banco Itau BBA said on Monday.

UPDATE 2-Ultra Petroleum flags going concern risk, warns of bankruptcy

Feb 29 (Reuters) - Natural gas producer Ultra Petroleum Corp said its auditors have raised doubts about its ability to stay in business and that it may have to seek bankruptcy protection in the United States or Canada.

Moody's lowers Seadrill Partners' rating by three notches

Feb 29 (Reuters) - Moody's Investors Service downgraded Seadrill Partners LLC's corporate family rating by three notches, reflecting continued deterioration of the offshore drilling market.

UPDATE 2-Mexico's Pemex defers projects amid oil rout, downbeat on prices

MEXICO CITY, Feb 29 (Reuters) - Mexican state-run oil company Pemex said on Monday it would put billions of dollars worth of projects on hold, citing a financial squeeze caused by the prolonged rout in global oil prices, which it expects will intensify in the near term.

Minnesota's utilities commission approves cross-border hydroelectric power transmission line

The Minnesota Public Utilities Commission gave its unanimous approval for the proposed Great Northern Transmission Line last week, largely clearing the way for the 500 kV connector that will allow for the import of Canadian hydroelectric power into the United States.

Wind Power Will Soon Surpass Hydro as the Largest Source of Clean Energy in the US

Hydropower has always been the largest renewable energy in terms of overall percentage of installed capacity but by 2018, it may no long hold that title.

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